Find out the biggest stock buyback authorizations last week
Buybacks
December 15, 2023
Mastercard Incorporated just upped the ante with a 16% increase in its quarterly cash dividend, now at an impressive 66 cents per share, compared to the previous 57 cents. This move showcases Mastercard's commitment to rewarding its shareholders.
Moreover, the Board of Directors greenlit a robust new stock buyback program, giving the green light to buy back up to $11 billion of its Class A common stock. This follows the heels of the successful completion of Mastercard's earlier $9 billion program in December 2022, leaving around $3.5 billion still in the kitty as of December 1, 2023.
Mastercard stock rose 4% in a week from the time LevelFields.AI sent the alert
Mastercard Incorporated, a global technology company founded in 1966 and headquartered in Purchase, New York, specializes in providing transaction processing and payment-related products and services internationally. Facilitating payment transactions through authorization, clearing, and settlement processes, Mastercard caters to account holders, merchants, financial institutions, governments, and businesses. Mastercard offers a comprehensive range of integrated products, including credit programs, prepaid payment programs, commercial payment solutions, and value-added services such as cybersecurity, intelligence products, analytics, and consulting. Operating under brands like MasterCard, Maestro, and Cirrus, Mastercard is a key player in the evolving landscape of payment solutions.
Northrop Grumman, a major player in the aerospace and defense industry, recently greenlit a stock buyback program. In simpler terms, Northrop Grumman's board of directors gave the go-ahead to spend an extra $2.5 billion on buying back its own shares. This brings the total authorized amount for stock repurchases to around $3.8 billion. The idea is that Northrop Grumman will buy back its own shares from the stock market, and they might do this either openly on the market or through private deals, depending on how the market is behaving and what the management thinks is best.
Northrop Grumman Corporation is a leading security company, specializing in providing a wide range of systems, products, and solutions across autonomous systems, cyber, space, strike, logistics, and modernization. With operations in the United States and internationally, Northrop Grumman operates through Aeronautics Systems, Defense Systems, Mission Systems, and Space Systems segments. It is involved in the design, development, integration, and production of manned aircraft, autonomous systems, spacecraft, high-energy laser systems, microelectronics, and other intelligence, surveillance, and reconnaissance (C4ISR) solutions. Additionally, Northrop Grumman offers life-cycle solutions and services supporting networks and systems, including sustainment, modernization, training, simulation, engineering services, cyber solutions, logistics, and information technology. Established in 1939 and headquartered in Falls Church, Virginia, Northrop Grumman plays a crucial role in enabling national security, civil government, and commercial customers to achieve their critical missions.
Edwards Lifesciences Corporation is gearing up for future growth by focusing on its structural heart business. At their annual investor conference, CEO Bernard Zovighian highlighted key milestones, including the completion of enrollment in PROGRESS and data from EARLY TAVR expected in 2024. With a strong financial outlook for 2024, projecting sales of $6.3 - $6.6 billion, Edwards Lifesciences is confident in its Transcatheter Aortic Valve Replacement (TAVR) and Transcatheter Mitral and Tricuspid Therapies (TMTT).
Notably, Edwards plans to spin off its Critical Care division by the end of 2024, allowing for a more focused approach in TAVR, TMTT, and Surgical areas. This strategic move aligns with Edwards Lifesciences's commitment to innovation and leadership in the cardiac healthcare sector. To further bolster shareholder value, the Board of Directors has authorized an additional $1 billion for stock buybacks, showcasing confidence in Edwards Lifesciences's growth trajectory. Overall, Edwards Lifesciences is positioning itself for a robust future with a clear focus on cutting-edge technologies and patient care.
Edwards Lifesciences Corporation, founded in 1958 and headquartered in Irvine, California, specializes in providing innovative products and technologies for structural heart disease, critical care, and surgical monitoring on a global scale. Edwards Lifesciences is renowned for its transcatheter heart valve replacement and repair products, addressing minimally invasive heart valve procedures, as well as offering surgical heart valve therapy solutions. Additionally, Edwards Lifesciences focuses on critical care products, including hemodynamic monitoring systems and advanced platforms that offer real-time physiological information to enhance patient care in surgical and intensive care settings. Edwards Lifesciences's distribution network involves direct sales force and independent distributors, making its impact felt both in the United States and internationally.
Edwards Lifesciences stock rose 14.5% in a week from the time LevelFields.AI sent the alert
Clean Harbors, Inc., the top environmental and industrial services provider in North America, recently greenlit a $500 million expansion of its stock buyback program, with approximately $54 million still available as of December 1, 2023. This move, approved by the Board of Directors, reflects Clean Harbors' commitment to strategic capital allocation. Eric J. Dugas, Chief Financial Officer, emphasized the program's role in value creation, having already bought back about 8.5 million shares at an average price of roughly $64 each under the initial $600 million plan.
Clean Harbors plans to execute these stock buybacks using its existing cash resources. Dugas highlighted their dedication to a balanced financial approach, supporting the Vision 2027 growth strategy while providing shareholders with robust returns. Clean Harbors maintains flexibility, allowing it to navigate acquisitions, internal investments, stock buybacks, or debt reduction as deemed fit. The program authorizes the acquisition of common stock through open market transactions or private negotiations, adhering to U.S. securities laws. The decision to buy shares will depend on various factors, such as share price, cash needs for future plans, trading volume, and market conditions. It's important to note that Clean Harbors retains the freedom to suspend or terminate the repurchase program at any point. This underscores Clean Harbors's commitment to prudent financial management in line with its growth strategy.
Clean Harbors, Inc. is a leading North American company specializing in environmental, energy, and industrial services. Operating through two key segments, Environmental Services and Safety-Kleen, Clean Harbors handles the collection, transportation, treatment, and disposal of hazardous and non-hazardous waste. Their Environmental Services segment offers a comprehensive range of services, including resource recovery, incineration, landfill disposal, and wastewater treatment. Additionally, Clean Harbors provides industrial maintenance, specialty industrial services, and field services using specialized equipment. The Safety-Kleen segment focuses on parts washers, automotive and industrial cleaning products, hazardous waste pickup and transportation, vacuum services, lubricants manufacturing, and waste fluid removal. Founded in 1980 and headquartered in Norwell, Massachusetts, Clean Harbors is dedicated to providing efficient and environmentally responsible solutions.
Clean Harbors stock rose 4.3% in a week from the time LevelFields.AI sent the alert
InterDigital, Inc., a leading mobile and video technology research and development firm, recently greenlit a substantial expansion of its stock buyback program. The Board of Directors approved a boost from $235 million to an impressive $300 million, starting December 1, 2023. This move signals InterDigital's commitment to leveraging its financial strength and confidence in its future prospects.
The decision to authorize this stock buyback underscores InterDigital's belief in the intrinsic value of its shares. By allocating substantial resources, InterDigital aims to enhance shareholder value and capitalize on potential market opportunities. The flexibility in timing and methods of repurchases, including open market transactions or block purchases, provides InterDigital with strategic adaptability. Investors should keep an eye on InterDigital, as this move not only reflects a financial strategy but also speaks to InterDigital's positive outlook and strategic positioning in the dynamic tech landscape.
InterDigital, Inc. is a global leader in designing and developing cutting-edge technologies that optimize wireless communications worldwide. Specializing in digital cellular and wireless solutions, InterDigital's portfolio spans 2G to 5G, as well as IEEE 802-related products and networks. With a focus on cellular technologies such as CDMA, TDMA, OFDM/OFDMA, and MIMO, InterDigital contributes to the advancement of wireless networks and mobile devices. Additionally, InterDigital is actively involved in 3GPP technology for 5G NR, LTE-Advanced, and cellular IoT, catering to diverse sectors like automobiles, wearables, smart homes, drones, and connected consumer electronics. InterDigital's impact extends to video coding, transmission technologies, and ongoing research and development in artificial intelligence. Boasting a robust patent portfolio of around 32,000 patents and applications, InterDigital, founded in 1972 and headquartered in Wilmington, Delaware, plays a crucial role in shaping the future of wireless communication technologies.
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